As it stands now, manufacturers are each given virtual "tokens" that must be "spent" every time a change is made to the power unit, and each season, the number of available tokens was set to drop. The system was intended to keep the cost of development down, but what it ended up doing was making it hard for any manufacturer that didn't start out with a great engine to catch up.

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"The token system is being removed. One of the reasons we have all agreed to do this is that we all need the performance of the engine to converge. An F1 that is dictated by the performance of the engine is not good for anyone." said Renault's Cyril Abiteboul.

He then went on to say, "We have decided, also for the public, to stop the public being confused between the penalty system, the token system—we have decided to simply remove the token system."

After the conclusion of the 2016 season, manufacturers will face many fewer limits on power unit development, being allowed to introduce improvements any time a driver uses a new power unit in a race weekend.